Over 40% of Crypto Investors Defer Profit-Taking Due to 'High Taxes'
A survey by JinaCoin, operated by jaybe Inc., reveals that over 40% of crypto investors who have realized profits have deferred profit-taking due to the high tax burden, with the trend being more pronounced among those with larger portfolios.
📋 Article Processing Timeline
- 📰 Published: May 26, 2026 at 20:02
- 🔍 Collected: May 26, 2026 at 11:31
- 🤖 AI Analyzed: May 27, 2026 at 09:11 (21h 40m after Collected)
## Survey Overview
JinaCoin (https://jinacoin.ne.jp/), a crypto asset news media outlet operated by jaybe Inc. (Headquarters: Takamatsu, Kagawa Prefecture; CEO: Takayuki Mizusawa), conducted an internet survey on taxes and profit-taking in crypto asset investments, targeting 351 residents in Japan aged 20 or older.
Currently, Japan is considering a policy shift for crypto asset transactions from 2028 onwards, aiming to transition from the current comprehensive tax rate of up to 55% to a self-assessment separate taxation rate of approximately 20%. This survey sheds light on how the tax burden of crypto assets influences investors' decisions to take profits.
## Key Findings Summary
- 19.3% of all respondents reported having deferred profit-taking due to high taxes.
- Among investors who have actually made profits, 42.0% have experienced deferring profit-taking.
- Among current crypto holders, more than half of those with a total valuation of 100,000 yen or more have experienced deferring profit-taking.
- By age group, respondents aged 60 and older reported the highest experience rate at 57.2%.
## Detailed Results
### Profit-Taking Deferral Experience
In the survey of all 351 respondents, 19.3% reported deferring profit-taking due to tax concerns, consisting of 10.5% reporting '1–2 times' and 8.8% reporting 'multiple times.' Among 179 experienced investors, the rate rises to 35.2%. Furthermore, when limited to the 150 respondents who have actually realized profits (including unrealized gains), the deferral rate climbs to 42.0%.
### Impact of Portfolio Valuation
Analysis of the 125 current crypto holders showed that for those with a portfolio valuation of 100,000 yen or more, the experience rate of deferring profit-taking exceeded 50%. Specifically, the rate was 54.8% for those in the 100,000–500,000 yen range, 65.0% for 500,000–1,000,000 yen, and 68.8% for 1,000,000–5,000,000 yen. This suggests that the higher the valuation, the more the tax burden influences the decision to take profits.
### Differences by Generation
By generation, respondents aged 60 and older showed the highest experience rate at 57.2%, followed by those in their 40s at 37.3% and 30s at 36.1%. In contrast, respondents in their 20s reported a relatively lower experience rate of 33.3%.
## Conclusion
The survey clearly indicates that high taxes are a significant deterrent for many investors when considering profit-taking. As Japan moves toward a potential transition to separate taxation for crypto assets, this may lead to shifts in investor selling behavior and potentially improve market liquidity in the future.
JinaCoin (https://jinacoin.ne.jp/), a crypto asset news media outlet operated by jaybe Inc. (Headquarters: Takamatsu, Kagawa Prefecture; CEO: Takayuki Mizusawa), conducted an internet survey on taxes and profit-taking in crypto asset investments, targeting 351 residents in Japan aged 20 or older.
Currently, Japan is considering a policy shift for crypto asset transactions from 2028 onwards, aiming to transition from the current comprehensive tax rate of up to 55% to a self-assessment separate taxation rate of approximately 20%. This survey sheds light on how the tax burden of crypto assets influences investors' decisions to take profits.
## Key Findings Summary
- 19.3% of all respondents reported having deferred profit-taking due to high taxes.
- Among investors who have actually made profits, 42.0% have experienced deferring profit-taking.
- Among current crypto holders, more than half of those with a total valuation of 100,000 yen or more have experienced deferring profit-taking.
- By age group, respondents aged 60 and older reported the highest experience rate at 57.2%.
## Detailed Results
### Profit-Taking Deferral Experience
In the survey of all 351 respondents, 19.3% reported deferring profit-taking due to tax concerns, consisting of 10.5% reporting '1–2 times' and 8.8% reporting 'multiple times.' Among 179 experienced investors, the rate rises to 35.2%. Furthermore, when limited to the 150 respondents who have actually realized profits (including unrealized gains), the deferral rate climbs to 42.0%.
### Impact of Portfolio Valuation
Analysis of the 125 current crypto holders showed that for those with a portfolio valuation of 100,000 yen or more, the experience rate of deferring profit-taking exceeded 50%. Specifically, the rate was 54.8% for those in the 100,000–500,000 yen range, 65.0% for 500,000–1,000,000 yen, and 68.8% for 1,000,000–5,000,000 yen. This suggests that the higher the valuation, the more the tax burden influences the decision to take profits.
### Differences by Generation
By generation, respondents aged 60 and older showed the highest experience rate at 57.2%, followed by those in their 40s at 37.3% and 30s at 36.1%. In contrast, respondents in their 20s reported a relatively lower experience rate of 33.3%.
## Conclusion
The survey clearly indicates that high taxes are a significant deterrent for many investors when considering profit-taking. As Japan moves toward a potential transition to separate taxation for crypto assets, this may lead to shifts in investor selling behavior and potentially improve market liquidity in the future.
FAQ
Why do investors defer profit-taking due to taxes?
Current crypto assets are subject to high comprehensive taxation of up to 55%, discouraging investors from selling.
What trends does this survey reveal?
Investors holding assets worth 100,000 yen or more and older demographics are more likely to defer profit-taking due to high tax burdens.
What is the outlook for future tax reform?
A shift from the current comprehensive tax rate (up to 55%) to a self-assessment separate taxation rate (approx. 20%) is under consideration for 2028.